Direct General

GEICO | July 17, 2020

A new report by Fitch Ratings reveals that not only are US personal line insurers expected to see underwriting profits this year despite the pandemic, but there could be soon a reshuffle of America’s top insurers. The report said that the ongoing pandemic is “substantially affecting” the insurance industry in terms of underwriting and investment. Personal line insurers, in particular, are heavily impacted by the decline in risk exposures related to changes in economic and socia...

Core Insurance,Insurance Technology

Hildene Capital Management | November 25, 2022

Hildene Capital Management, LLC (“Hildene”), a $12 billion credit-focused asset manager, today announced the formation of Ludlow Re SPC, Ltd. (“Ludlow Re”), a Cayman Islands-based, Class B(iii) insurance company. Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1 billion of fixed index annuity reserves through a quota share agreement entered into with a U.S.-based life in...

Insurance Technology

MULBERRI | July 29, 2022

Mulberri, the business insurance platform for modern PEOs and brokers, announced it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). A shared platform that makes business insurance easier to access and manage, Mulberri will use the funding to continue to expand its infrastructure and data modeling to help make business insurance more simple, efficien...

Insurance Business America | March 27, 2020

Insurance companies are being pressured by the federal government to pay for the massive influx of business interruption insurance claims filed in the wake of the COVID-19 pandemic – something the industry is worried could lead to not just insolvencies, but the destabilization of the entire economic landscape. Last week, 18 legislators of the House told insurance trade groups that their members should recognize financial losses triggered by the outbreak as part of their policyholders&rsquo...